On November 17 2015, the Chief Executive of Macau delivered
the policy address for the fiscal year of 2016 at the
Legislative Assembly. Chui Sai On stated that, after 10 years
of continuous rapid growth, the gaming industry was going
through an adjustment phase, with its revenues recording
The Chief Executive emphasised that the economy of Macau was
nonetheless developing healthily, with stable public finances,
and public accounts were continuing to register a surplus.
The plans for 2016 include improvements in social welfare,
with an increase to a set of subsidies; the Wealth Partaking
Scheme and the Continuing Education Development Scheme will
Continuous support to local small and medium enterprises is
also on the agenda, with some companies being able to access
more loan funds, either interest free, or with low interest
During his positive speech, Chui Sai On also made references
to the recently created Commission for the Construction of
World Centre of Tourism and Leisure. This is the result of a
cooperation agreement signed between the Government of Macau
and the China National Tourism Administration, which aims to
promote and exchange events, studies and to adopt specific
measures related to the sector.
Furthermore, the Chief Executive announced that the
preparation of the 'Five-Year Development Plan of the Macau
Special Administrative Region' was underway, including a
project for the future overall development of Macau.
The role of Macau as a platform between China and
Portuguese-speaking countries was also highlighted.
Although not the main issue of the policy address, the need
to diversify the economy was also stressed, during which
process the structure of the industries of Macau would likely
suffer further adjustment pressure; and, "industries not
associated with gaming may constitute a dynamic factor for
maintaining the stability of the economy".
Supervision of the gaming industry remains at the top of the
programme, namely through the mid-term review process. On the
other hand, operators will be encouraged to participate more in
large-scale tourism projects in order to diversify the sector
by offering more leisure and non-gaming activities.
The policy address of the Chief Executive for 2016 is in
line with what was predicted a year ago, with the downturn in
the gaming industry being the most challenging aspect for the
Macau economy, with this industry being boosted by other
Pedro Cortés and Marta Mourão